【明報專訊】ACCORDING TO a story included in this issue of Ming Pao (June 15), an employee of an intermediary finance company posed as a bank employee, approached a person who owns a Home Ownership Scheme (HOS) flat and talked him into obtaining a low-interest top-up mortgage loan. He then had the owner accept a high-interest loan on the pretext that the top-up loan could not be arranged and exacted from him an exorbitant "consultancy fee". Unable to bear the burden, the owner eventually sought help from a social workers' organisation. That is a malady that has emerged since top-up mortgage loans in respect of subsidised housing (HOS flats or sold public rental housing units) were first arranged. Unless such lending is regulated "upstream", things will hardly be optimistic. Furthermore, soon after there had been a MERS panic last week, share prices plunged though it proved a false alarm. And it was reported that flat vendors had therefore asked lower prices. It can thus be seen that property prices are now so high that they may fall whenever there is the slightest sign of danger. A person who has obtained top-up mortgage loans in respect of his subsidised unit may well have to find loads of money to pay the price difference. A small owner who has obtained cash from his mortgagee bank to meet his needs may face an enormous risk.